A lasting power of attorney (LPA) is a legal agreement that allows you to appoint one or more people (attorneys) to help you make important decisions regarding your estate or to make decisions on your behalf if you are unable to.
It is a good way for you to ensure that you have provisions in place should you have an accident or illness that prevents you from making sound decisions.
There are two different types of lasting power of attorney:
Health and welfare lasting power of attorney
If you are unable to make your own sound and informed decisions, this LPA will allow a nominated attorney to make decisions on issues such as:
- Medical care
- Moving into care homes
- Your daily routine (Eating, washing, etc.)
- Life-sustaining treatment
Property and financial affairs lasting power of attorney
This LPA gives an attorney the authority to make decisions concerning money and property on your behalf. It covers issues such as:
- Collecting benefits
- Selling a home or property
- Banking or buildings society accounts
What if I already have an enduring power of attorney?
You may wish to consider revoking the enduring power of attorney and replacing it with both types of lasting power of attorney. They provide much better protection against fraud, as well as health and welfare decision making powers.
How much do lasting powers of attorney cost?
Nominating people in your life to hold responsibilities over you and your estate is a big decision and, while important, not one to be taken lightly. At Manak Solicitors, we offer fixed rates on these agreements and will advise you on how to make the documents as effective for your situation as possible.
- One lasting power of attorney (i.e. just Property or Health) = £500 plus VAT
- Two lasting powers of attorney (i.e. both Property and Health) = £750 plus VAT
- Additional Office of the Public Guardian registration fee = £82 per document
How long does it take to write an LPA?
We can take your wishes for lasting powers of attorney and send out draft documents within one week of the consultation. Once they have been approached and signed by you and your attorneys, we immediately send them for registration at the Office of the Public Guardian, where they currently take between eight and ten weeks to register lasting powers of attorney.